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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 58,039 $ 85,990
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses (9,000) (9,000)
Depreciation and amortization, premises and equipment 7,308 7,294
Amortization of premiums and discounts: investment securities, deposits, debt 2,833 4,788
Operating leases: excess of payments over amortization (3,146) (3,015)
Amortization of finance leases 442 786
Amortization of core deposit intangibles 728 878
Amortization of deferred loan fees and costs (656) (7,544)
Share-based compensation expense 3,239 2,557
Deferred income tax expense (benefit) (4,306) 7,777
Origination of LHFS (600,037) (1,785,393)
Proceeds from sale of LHFS 763,057 1,932,447
Net fair value adjustment and gain on sale of LHFS 6,304 (36,359)
Origination of MSRs (10,945) (27,908)
Net gain on sale of loans originated as LHFI (88) (4,613)
Change in fair value of MSRs (8,563) 8,267
Amortization of servicing rights 5,877 5,235
Gain on sale of branches (4,270) 0
Net change in trading securities (21,104) 0
(Increase) decrease in other assets 10,475 528
Increase (decrease) in accounts payable and other liabilities 13,268 (241)
Net cash provided by operating activities 209,455 182,474
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of investment securities (621,813) (112,146)
Proceeds from sale of investment securities 75,361 28,187
Principal payments on investment securities 94,739 159,037
Proceeds from sale of OREO 952  
Proceeds from sale of loans originated as LHFI 4,613 251,474
Net cash distributed in sale of branches (138,756) 0
Net increase in LHFI (1,727,944) (492,666)
Purchase of premises and equipment (4,939) (852)
Proceeds from sale of Federal Home Loan Bank stock 68,966 89,882
Purchases of Federal Home Loan Bank stock (130,033) (78,286)
Net cash used in investing activities (2,378,854) (155,370)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Increase in deposits, net 631,290 538,005
Changes in short-term borrowings, net 1,528,000 (322,800)
Proceeds from other long-term borrowings 0 50,000
Repayment of other long-term borrowings 0 (50,000)
Proceeds from debt issuance, net 98,035 0
Repayment of finance lease principal (449) (787)
Repurchases of common stock (75,000) (65,001)
Proceeds from exercise of stock options 0 263
Dividends paid on common stock (20,435) (16,171)
Net cash provided by financing activities 2,161,441 133,509
Net increase (decrease) in cash and cash equivalents (7,958) 160,613
Cash and cash equivalents, beginning of year 65,214 58,049
Cash and cash equivalents, end of period 57,256 218,662
Cash paid during the period for:    
Interest 29,289 12,371
Federal and state income taxes 2,348 28,156
Non-cash activities:    
Increase in lease assets and lease liabilities 4,877 910
LHFI foreclosed and transferred to OREO 1,018 0
Loans transferred from LHFI to LHFS, net 12,511 390,521
Ginnie Mae loans derecognized with the right to repurchase, net 5,567 70,197
Repurchase of common stock-award shares $ 1,322 $ 3,868